The stock market crash of 1929 brought the City’s industrial growth & real estate development to an abrupt halt. The depression extended to the middle 1930’s when increased employment at Lockheed Aircraft and construction work created by the Metropolitan Water District brought improvement to the economic situation. In 1940 Lockheed purchased the Union Air Terminal keeping it open for public use and for testing Lockheed built aircraft.
As World War II broke out Lockheed was building record numbers of famous Hudson bombers, the P-38 and PV-1 Venture. Lockheed subcontracted some assembly work to dozens of businesses that sprung up around the City.
A new era began for Burbank at mid-century. For the first time in a town’s history a period of prosperity did not come to a halt at the end of a cycle of sudden growth. The wartime industrial boom had been followed by a postwar real estate boom, leaving few undeveloped areas in the Community. Burbank had just passed through a period of growing pains for a city